Lec 10 : CA Inter Revision | Audit | Risk Assessment and Internal Control | Hindi + English
CA Inter Auditing and Ethics by Prof. Rohit Shroff Notes : https://drive.google.com/file/d/12dmGxBU8f0bwJhTx2aix6f2WE60J-NV8/view?usp=sharing Learn and Revise with the best #CAInteratjksc Anything else is a compromise Website: https://online.jkshahclasses.com Facebook: https://www.facebook.com/officialiksc Instagram. https://www.instagram.com/officialjksc Telegram: https://t.me/jkshahonline
Video Chapters
- 0:43 What is Audit Risk & Its Components?
- 1:21 Two Levels of Risk: Financial vs. Assertion
- 2:50 How to Assess Material Misstatement Risks
- 3:45 Real-World Example: Finding Hidden Risk
- 4:57 The Auditor's First Step: Understand the Business
- 6:30 Red Flag: How Company Losses Signal Fraud Risk
- 8:36 The Art of Auditing: Using Professional Judgment
- 10:11 What is Internal Control? (A Simple Guide)
- 12:00 The 4 Core Objectives of Internal Control
Original Output
0:43 What is Audit Risk & Its Components? 1:21 Two Levels of Risk: Financial vs. Assertion 2:50 How to Assess Material Misstatement Risks 3:45 Real-World Example: Finding Hidden Risk 4:57 The Auditor's First Step: Understand the Business 6:30 Red Flag: How Company Losses Signal Fraud Risk 8:36 The Art of Auditing: Using Professional Judgment 10:11 What is Internal Control? (A Simple Guide) 12:00 The 4 Core Objectives of Internal Control Timestamps by StampBot 🤖 (303-lec-10-ca-inter-revision-audit-risk-assessment-and-internal-)
Unprocessed Timestamp Content
0:01 Introducing the important chapter on risk assessment and internal control 0:20 A simple strategy to master this difficult audit chapter easily 0:43 First topic begins- what is audit risk and its components 1:21 Understanding risk at the financial statement versus the assertion level 2:02 Explaining detection risk- sampling risk versus non-sampling risk 2:50 How to identify and assess the risk of material misstatement 3:45 An excellent example using related party transactions to identify risk 4:57 Why auditors must understand the entity and its business environment 6:30 Why a company making consistent losses increases the risk of fraud 8:36 Key areas where an auditor must exercise professional judgment 10:11 What is internal control- explained with simple relatable examples 12:00 The four key objectives of a company’s internal control system Timestamps by StampBot 🤖 (303-lec-10-ca-inter-revision-audit-risk-assessment-and-internal-)